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 rlb5957
Joined: 04 Mar 2009
Posts: 1
1.29 Dollars($)
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 Posted: Wed Mar 04, 2009 6:09 am Post subject: Loan Qualification |
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| I'm a little over 2 years out of a foreclosuer. My credit score is 620. Can I qualify for a loan if I put 20% or more down? and if so what would the interest rate be? |
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Alessandro
Guest
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| Posted: Wed Mar 04, 2009 6:34 am Post subject: |
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Hi rlb,
Since 2 years have elapsed after the foreclosure, the credit is good and you are ready to pay 20% or more down payment, I think you can qualify for a loan. However, the rates will vary from one lender to another. You need to shop around and talk to various lenders in this regard. You can also check the Free Obligation Mortgage Quote link in the home page of this site. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 10567
Location: bloomfield, ct
10.10 Dollars($)
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| Posted: Wed Mar 04, 2009 8:50 am Post subject: |
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most guidelines call for a 4 year wait, along with reestablishment of good credit.
_________________
George M. Akerley
Credit & Lending Consultant
860-221-5044 |
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ashleyblanton
Joined: 03 Feb 2009
Posts: 151
Location: San Diego, CA
0.00 Dollars($)
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| Posted: Wed Mar 04, 2009 1:27 pm Post subject: |
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Is the foreclosure still showing on your credit? And if so, what is it stating beside it? If it is cleared you may be able to. Right now with your credit score you would need to go into a FHA loan. So i would call a couple brokers and see what they can offer.
_________________
Ashley Blanton
VP of Operations
2180 Garnet Ave. 3EF
San Diego, CA 92109
(858) 768 - 0764
ashley(at)aplemail.com |
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